07 Jan Part 1: List and discuss the major

Week 4 : Project Risk Management – Quiz

Question 1.1. (TCO 1) Which step of the project life cycle creates the project charter? (Points : 5)

Initiation

Planning

Monitoring and control

Close out

Question 2.2. (TCO 1) Which document on a project authorizes the project manager to begin work on the project? (Points : 5)

The scope

The schedule

The charter

The risk management plan

Question 3.3. (TCO 2) Project deliverables are created in the _____ , which is completed during the _____ phase of a project. (Points : 5)

charter; execution

scope; planning

schedule; planning

charter; planning

Question 4.4. (TCO 2) Which statement is an example of a project constraint? (Points : 5)

“If the parts arrive late, we will not finish on time.”

“We must get permits before we start work.”

“I believe the contracts will be signed by the 15th.”

“The paving of the parking lot is a major piece of work for this project.”

Question 5.5. (TCO 3) The amount of time an activity can be delayed without impacting the end date of the project is known as what? (Points : 5)

Project risk

Slack

Critical path

Early start

Question 6.6. (TCO 3) What values are calculated on the backward pass of a project network? (Points : 5)

Early start; late start

Early start; early finish

Late start; late finish

Early finish; late finish

Question 7.7. (TCO 5) In which process of risk management are proactive and reactive strategies considered? (Points : 5)

Plan risk management

Plan risk responses

Control risks

Qualitative risk analysis

Question 8.8. (TCO 5) Contingency plans are created (Points : 5)

to proactively address the risk.

to respond to the risk should the risk occur.

to gather information on vital risks.

to avoid red risks in the project plan .

Week 4 : Project Risk Management – Quiz

Question 1.1. (TCO 1) Before one can begin writing a charter, one must consider the most appropriate organization for the project. You are the project manager for an organization that builds doors and windows for homes. Which organization structure of the five types is most suitable? Why? (Points : 20)

Question 2.2. (TCO 2) You are reaching the end of your graduate school program and are planning a large party to celebrate your success! You have rented out the local forest preserve as the venue for your party. Applying your project management skills, you want to ensure you have everything planned out and you’ve asked your family and friends to be a part of your team to hold this party. At your party, you have made it clear to your team what you want to have delivered. After all, it’s your party— you can have whatever you want! Some of the key items you want at your party include

•?????????graduation announcements;

•?????????party invitations;

•?????????live entertainment;

•?????????games (for adults and for children);

•?????????food;

•?????????beverages; and

•?????????convenience for all (parking, restroom facilities, etc.).

Part 1: To ensure you have a clear scope for your team, create a 2-level WBS. Don’t forget to include your WBS numbering (15 points).

Part 2: In your WBS, how many work packages have been created? (5 points) (Points : 20)

Question 3.3. (TCO 3) Compare and contrast fast tracking and scope reduction as means of schedule compression. (Points : 20)

Question 4.4. (TCO 5) A firm stores data for other organizations. The company stores data across many states, providing backup data storage for state, municipal governments, and large corporations. The firm is deploying a new set of storage devices that are faster, denser, and more energy efficient.

Part 1: List and discuss the major risk management functions from a project management perspective for the new data storage project. (15 points)

Part 2: Describe a positive and a negative risk event, the related consequences, and the risk response plan for each of the two risks for the new data storage project. (5 points) (Points : 20)

Question 5.5. (TCO 9) Compare and contrast the development of a WBS in traditional project management versus development in an agile environment. (Points : 20)